CAPITAL MARKETS

To introduce students in a rigorous but intuitive way to core topics in finance. The course intends to define fundamental principles for asset pricing and show their practical implications within financial markets. Thus, the course describes the role of institutions and instruments in financial markets, illustrates the asset management industry, presents modern portfolio theory and analyzes applied portfolio management.

Microeconomics and Statistics are pre-requisites. Econometrics and Mathematical Finance are also useful.

Knowledge and understanding: The student - by participating in the lectures and practical activities of the course - will have developed the ability to understand the fundamental principles for asset pricing and their practical implications within financial markets Applying knowledge and understanding: The student - acquiring the correct tools and method - will be able to develop and apply analytical skills to operate within the asset management industry. Making judgements: The student, through the use of the methodologies acquired during the course, will have acquired problem analysis skills and the ability to identify the information necessary for their solution. Specifically, critical thinking, problem solving, self-management, teamwork, relationship and communication skills will be adequately developed, which enhance and make the disciplinary skills more usable. Communication skills: At the end of the course the student will be able to use the business and technical vocabulary of asset management industry with terminological accuracy. Through the various activities that will take place during the course – lecturers, problem sets and essay type questions homework - the student will be able to put these communication skills into practice in various contexts, by adapting the terms used to the interlocutor in the specific case, thus gaining advanced rhetorical skills necessary for his/her professional career. Learning skills: The technical-economic knowledge acquired during the course will allow the student to autonomously understand and interpret modern portfolio theory and adapt them to the specific reference context. The student will develop a solid knowledge of the fundamental aspects of the subject that will allow him to continue to deepen the topics addressed independently and to undertake the various post-graduate professional training courses.

1. Introduction to Financial Instruments and Securities Markets. 2. Portfolio Theory. 3. Capital Markets Equilibria. 4. Empirical Analysis of Securities Returns. 5. Applied Portfolio Management

Investments (Global edition), Bodie, Kane and Marcus, McGraw-Hill, 10th ed (2014).

Le lezioni frontali si concentreranno sulla discussione e la presentazione degli argomenti elencati nel programma del corso. Il materiale didattico supplementare verrà impiegato in classe per integrare il contenuto del libro di testo principale. Domande analitiche e teoriche verranno, caricate sul sito dell'insegnamento, verranno assegnate come esercitazione e quindi discusse in classe.

La valutazione degli studenti avverrà attraverso una prova intermedia ed una prova finale. Entrambe consisteranno di esami scritti, con esercizi numerici e domande teoriche a risposta aperta. La prova intermedia (finale) contribuirà per il 30% (70%) alla valutazione complessiva.

Gli studenti devono essere studenti frequentanti, che partecipano attivamente alle lezioni